Claiming organizations have neglected their responsibility to take a leadership role with policies, process and procedures to protect intellectual property (IP), Joscelyne said Australia lags behind the rest of the world.

"Information is viewed as a highly prized asset in Europe and the US yet it appears to be undervalued in Australian companies," he said.

Speaking at a Security-Assesment.com breakfast briefing in Sydney Wednesday, Joscelyne said lack of IP protection falls squarely on the shoulders of business executives.

He said the most negative views his company encounters come from companies that keep pushing their fiduciary duties out to technical staff.

"Quite frankly it is naive, stupid and quite unfair," Joscelyne said, adding that this is an opportunity for CIOs to step in and lead.